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Georges Company is expected to pay an annual dividend of $4.00 for the next three years. After that, the dividend is forecasted to grow at

Georges Company is expected to pay an annual dividend of $4.00 for the next three years. After that, the dividend is forecasted to grow at 4% annually forever. The required rate of return for Georges is 11%. What is the value per share of Georges Company?

A.

$47
B.

$44
C.

$59
D.

$53

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